Provexis Share Discussion Threads

[winner31] 30/1/2019 20:33

there must be many companies that produce vitamin A .only one company produce fruitflow ,!

[senor_sensible] 30/1/2019 13:33

little unexpected tick-up today x-!

[redprince] 22/1/2019 16:12

Okay my thoughts fwiw on the interims now that i have had a little time to digest and reflect on them.

HEADLINE FIGURES

Underlying operating loss* £154k (2017: £146k), reflecting increased patent costs in the period.

• Cash £556k at 30 September 2018 (2017: £483k), which includes £395k of funds received in advance of the share placing referred to above.

*before share based payments of £75k (2017: £43k), as set out on the face of the Consolidated Statement of Comprehensive Income

Comments - Revenues were £194k (2017: £124k), an increase of £56k yoy
However we know that £26k of that was mktng support from DSM.
Set against that was the increased patent cost of £38k so overall we were £12k better off.

Breaking down the income rise as follows:

• An increase in the net income received from the Company’s Alliance Agreement with DSM, which grew by 34% to £120k in the six months ended 30 September 2018 (2017: £90k);
• An increase in revenue net of sales rebates from the Company’s Fruitflow®+ Omega-3 business, including Holland & Barrett, the Company’s website www.fruitflowplus.com and Amazon UK, which grew by 36% year on year to £47k in the six months ended 30 September 2018, compared to £34k in the six months ended 30 September 2017.
• Amounts in excess of £26k which were received in the period for marketing support, compared to amounts of £Nil which were received in the prior year.

My criticism here is that whilst they report on segmental information as they should it is meaningless without the costs associated with each segment.For instance there was a batch of product procured in July and i cannot tell how much this cost us??My impression based on the available information is that FF+ is bringing in very little if anything and when management time is factored in it may be the case that this is costing us money overall.

Total revenues net of sales rebates for the Company’s Fruitflow®+ Omega-3 business, to include Holland & Barrett, the Company’s website www.fruitflowplus.com and Amazon UK, grew by 36% year on year to £47k in the six months ended 30 September 2018, compared to £34k in the six months ended 30 September 2017. Further UK and international

COMMENTIs that a £13k increase inclusive of half the annual mktng support of £26k???If so that means an increase overall of £1k only.
We should not be left to guess but that is i believe deliberate from the mngmt as the truth is it is doing very little if anything for us imo.

Underlying operating loss for the period was £154k (2017: £146k), reflecting a £38k year on year increase in research and development costs in the period.

Comment : when stripping out the increased (one off??) costs we are improving our bottom line and operational cashflow however i suspect these “one off” costs are not one off in that they could even increase again in the current year.

Reasons for the increase are due to patent applications for Fruitflow anti hypertensive patents which have been granted in 4 territories with 5 more planned (hence my thinking the “one off” costs are likely to be repeated).

By-Health - only 2 studies completed and no submissions to the SAMR yet - first expected in February.
Third study meant to be finished at year end still ongoing.Three more planned and the MOU to be signed in first half of 2019 with the bulk of the research to be completed in 2019.
That looks highly like we should not be expecting anything before the summer and probably the autumn in terms of product as the Blue Hat tests look like they are going to last until at least the end of summer if not longer.I am assuming that any product is dependent on all the Blue Hat tests being completed.
Further from previous rns’s i am concluding that we can expect some product(s) before the MOU research is complete and more after that piece of work is done if all goes well??

Fruitflow®+ nitrates dietary supplement product

Patents are being sought in Europe, the US, China and ten other territories, with potential patent protection out to December 2033.

The Company is progressing the formulation and launch of a Fruitflow®+ nitrates dietary supplement product, which will be supported by the Company’s strong patent position in this area, with the involvement now of third-party manufacturers and with some interest already generated from brand owners.

Antihypertensive (blood pressure lowering) patents have now been granted for Fruitflow® in Europe, Australia, Hong Kong and New Zealand, and patent applications are being progressed in a further five major territories to include the US and China, with potential patent protection out to April 2033.

COMMENTS
Vast potential long term with more costs short term .
Likelihood of a deal near term ???

AIRPOLLUTION

In December 2017 the Company announced the filing of a patent application relating to the use of Fruitflow® in protecting against the adverse effects of air pollution on the body’s cardiovascular system.
The Company expects that this patent application will have a significantly beneficial effect on the current and future commercial prospects for Fruitflow worldwide, and it extends potential patent protection for Fruitflow® out to November 2037.

COMMENTS

Personally i am not holding my breath on this as i do not see it being a front runner in terms of products likely to gain any traction in the marketplace for a variety of reasons already discussed elsewhere.
Not sure what territories are covered either.

“Trade marks were originally registered in the larger global territories, and new registrations are typically now sought in additional territories in response to requests from current or prospective customers for Fruitflow®.̶1;

SUMMARY

• Improved Fruitflow® / Fruit Extracts, which was granted by the European Patent Office in January 2017. The patent has been granted in six other major territories to include China, and patent applications are at a late stage of progression in a further eight global territories, with potential patent protection out to November 2029.
• Antihypertensive (blood pressure lowering) effects, as detailed above, with potential patent protection out to April 2033.
• The use of Fruitflow® with nitrates in mitigating exercise-induced inflammation and for promoting recovery from intense exercise, as detailed above, with potential patent protection out to December 2033.
• The use of Fruitflow® in protecting against the adverse effects of air pollution on the body’s cardiovascular system, as detailed above, which extends potential patent protection for Fruitflow® out to November 2037

The MOU research and lack of discernible income growth will almost certainly require further fund raising later this year.
There is a lack of transparency in some of the information detailed above which may or may not be deliberate.

Overall this remains at present a risky punt (given the lack of income and working capital and the increasingly reduced shareprice) but one from which there is still potential for future growth.#

I realise i have not really added anything much to BB’s original analysis but perhaps it helps someone understand something a little better.

Comments welcome.

[redprince] 04/1/2019 08:08

wheelds -was the US trade mark not originally launched in US several years ago?Launching a tm means nothing of itself so i would not be getting too excited about that just yet as it does not guarantee anything.
You do realise that the eoy statement confirms that By-Health have not yet completed the 3rd of 6 Blue Hat tests?That means we are highly unlikely to see a product from them until the autumn of this year at the very earliest.
Personally i expect further delays after the Blue Hat tests are done as is par for the course for all things Provexis.
All that means further fundraising a near certainty with in excess of 2 billion shares
in circulation.
The best bit of news i can realistically hope for this year (completion of Blue Hat aside) is the retirement/termination of Dawson Buck who as far as i can see does virtually nothing for his £70k pa.

Aimho.Dyor.

[wheelds] 03/1/2019 16:25

Next week America and China to begin talks again on Trade tariffs.
And these talks (if the market sees as positive"
THEN, 2019 will be a good year for investors. IMHO

And Provexis has just launched its Fruitflow trade mark in America and if By-Health starts to produce and sell Fruitflow products in China and around the world then 2019 will be very good for PXS investors. IMHO

[bareknee] 01/1/2019 16:43

Graham

Just to echo what RedPrince has already said ... hopefully what went wrong in 2018 for you can be fixed, and 2019 is a better year. What happens on the markets might effect our wealth, but that's not the most important thing in life.

So Happy New Year to anyone reading this, and I hope 2019 brings health and happiness to you ... though any rise in the share price would be welcomed as well !

BB

[lafin] 01/1/2019 13:57

Depends on your definition of the word "us" I would have thought.
More clarity of thought required.

[redprince] 01/1/2019 12:21

LibraG - sorry to hear your 2018 was not so good - here is hoping to a much better 2019 for you.
Fwiw i just lost a friend who had been having a really miserable few years...really makes me think about what is really important in life - it's not pixie shares anyway!

BB - great summary and i want to respond to some of your points in due course although i don't think i will be adding any real additional added value to the main thrust of it.

Happy New Year anyway and hopefully it will be a better one for us than the last one.

[bareknee] 31/12/2018 16:56

By the way, wtf happened to Graham ?

I just checked and he seems to have been missing for a few months now, and it's not like him not to have an opinion on something ?

[buywell3] 31/12/2018 15:55

is It.

56% rise in revenue = 3.5% rise in losses = 80% rise in share based payments

[winner31] 31/12/2018 08:22

56% rise in revenue ,good progress in my opinion

[redprince] 15/11/2018 07:48

First product from who exactly?Phytopharma??

[winner31] 14/11/2018 22:24

Looks like the first product on Amazon.com,

[redprince] 08/11/2018 12:36

Last top up executed.

Now come on pixies and get those products rolled out!!

[redprince] 31/10/2018 08:58

Just added another 2.7m into my ISA.

Be greedy when others are fearful.

[lafin] 31/10/2018 08:51

Sorry for laughing but I think you already know.

[lafin] 31/10/2018 08:49

winner,
there is another one.

[redprince] 31/10/2018 08:32

winner re your last - now you know why the filter button is useful!

Btw picked those last ones up @ 0.0375 - might get some more for my ISA.Way i see it is

~ the Chinese are financing their own blue cap tests so they must be fairly serious.
~Also in the event we get t/o (hopefully not)most shareholders will be loathe to accept anything less than a multiple of todays mkt cap and
~ also the bod would not recommend any offer that did not reflect the "prospective value of the pipeline which stands at a substantial multiple of current sales".

Aimho.Dyor.

[winner31] 31/10/2018 08:05

Latin what is the significance of that ?